Leaf Clean Energy Co Transaction in Own Shares & R

 

TIDMLEAF TIDMTRE 
 
RNS Number : 6586F 
Leaf Clean Energy Company 
15 January 2010 
 

Leaf Clean Energy Company 
("Leaf" or the "Company") 
 
 
Transaction in Own Shares and announcement under Rule 2.10 of the Takeover Code 
 
 
The Company announces that on 15 January 2010 it purchased for cancellation 
380,000 ordinary shares at 67.5 pence per share. 
 
 
Rule 2.10 Disclosure 
Following the above purchase, the Company announces that it has now 182,173,773 
ordinary shares of 0.01pence in issue. Leaf's ordinary shares are traded on AIM, 
a market of London Stock Exchange plc, with ISIN No KYG541351014. 
 
 
The above figure 182,173,773 may also be used by shareholders as the denominator 
for the calculations by which they will determine if they are required to notify 
their interest in, or a change to their interest in, Leaf Clean Energy Company 
under the FSA's Disclosure and Transparency Rules. 
 
 
Impact on FAV calculation as at 7 January 2010 included in the Scheme Document 
 
 
The reduction in the number of shares and cash following the buyback will have 
an effect on the estimated FAV ratio of share consideration for Trading 
Emissions shareholders as included in the Scheme Document posted on 13 January 
2010 which was calculated as at 7 January 2010.  If all the other constituent 
elements as set out in the appendix to the 2.5 announcement and Scheme Document 
remain constant, ie only the number of shares and level of cash have changed, 
and this buyback had been conducted before that calculation of FAV ratio of 
share consideration then this purchase of shares would have resulted in an 
increase in the illustrative FAV of 0.22 pence, from 100.2 pence per Leaf share 
to approximately 100.42 pence per Leaf share. 
 
 
On this basis a Trading Emissions shareholder would have been entitled to 1.4823 
Leaf shares for each Trading Emissions share they own compared with the 
illustrative 1.4857 ratio announced. The final ratio will be determined at the 
Calculation Date as set out in the 2.5 announcement.  The Closing Price of a 
Leaf Clean Share on 12 January 2010, the day immediately prior to posting the 
Scheme Document was 72.5 pence, therefore the implied offer price for each 
Trading Emissions Share on 14 January 2010 would be 107.47 pence post the impact 
of the buyback compared to the 107.7 pence disclosed in the Scheme Document. 
 
 
All definitions are the same as those set out in the 2.5 announcement released 
on 17 December 2009 and the Scheme Document. 
 
 
For further enquiries, please contact: 
EHM International Limited 
Tel: [phone] 
 
 
Ivonne Cantu /Liz Bowman 
Cenkos Securities plc 
Tel: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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